October GST Collections Hit Rs 1.72 Lakh Crore, Second-Highest Ever

New Delhi, Nov 2 (KNN) According to the finance ministry, October's GST collections reached Rs 1.72 lakh crore, marking the second-highest figure on record.

The collections are 13 per cent higher than the Rs 1.52 lakh crore collected in October 2022.

“GST revenue collection for October 2023 is second highest ever, next only to April 2023, at Rs 1.72 lakh crore; records increase of 13 per cent Y-o-Y,” the ministry said in a statement.

In April 2023, the Goods and Services Tax (GST) achieved its highest-ever revenue, reaching Rs 1.87 lakh crore.

The FY 2023-24 now boasts an average monthly GST collection of Rs 1.66 lakh crore, showing an 11 per cent increase compared to the same period last year.

(KNN Bureau)